Eurozone avoids recession but remains stagnant as Germany struggles
Economic output remained unchanged in the eurozone in the final three months of 2023, and slightly expanded in the EU, confirming the first estimates from Eurostat. The eurozone economy’s stagnation follows a 0.1% contraction in the previous quarter, meaning that the bloc has just avoided a recession, essentially avoiding two consecutive quarters of decline in gross domestic product (GDP). The economy has not shown any sign of life over the last year, contracting or growing by a slight 0.1% since the beginning of 2023. In a yearly comparison, the numbers also suggest a standstill economy, the ...